Guest Column | April 19, 2016

Your Retail Data is Only As Good As What You Do With It


By Matt Talbot,  CEO, Co-Founder, GoSpotCheck

Read Part 1 | Part 2

Data rules the business world, from your company’s hiring processes to the sales funnel. In only two years, the big data environment has generated 90 percent of today’s information, according to IBM. Accessing real-time data becomes increasingly important in a world with a focus on dynamic websites, traffic evaluation and data analysis. The big data world is shifting from gathering data and slowly finding the value, to creating actionable insights out of data as it is collected. Leveraging data in real time is the most integral part of staying competitive in today’s business landscape.

The Business Benefits of Real-Time Data

Businesses benefit from real-time data usage throughout the company, especially when it comes to business agility. In an analytic environment where it takes days, weeks, or even months to look at the data, you may be behind in adapting to a changing marketplace. Real-time data eliminates lag time and creates a more agile organization. Changing trends and evolving technology aren’t a cause for frustration; they’re advantageous opportunities that provide instant information.

Technology constantly alters the business world, and companies who can’t stay ahead of technological trends have to pick up the leftovers of other front-runners. Real-time data analysis helps your company make strategic decisions at the moment of awareness, instead of following in the footsteps of competitors.